WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement today after President Obama signed the Improper Payments Elimination and Recovery Act into law:

“Today, President Obama signed the Improper Payments Elimination and Recovery Act, an important fiscal responsibility measure. This law will save billions of dollars that are currently lost to waste, fraud, and abuse by identifying improper payments made by the Federal government and working to recover the funds. Today’s signing is another step in Democrats’ work to bring fiscal discipline back to Washington—work that also includes the passage of the pay-as-you-go law and our commitment to vote on the recommendations of the president’s bipartisan fiscal commission. And we are keeping the momentum going: this week the House unanimously passed rescissions to $107 million in unspent transportation contracts. Next week I expect we’ll pass a bill rescinding $713 million more. Steps like these are helping to dig us out of the deep debt left behind by the Bush Administration.”